Correlation Between CSIF III and CS Real
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By analyzing existing cross correlation between CSIF III Eq and CS Real Estate, you can compare the effects of market volatilities on CSIF III and CS Real and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CSIF III with a short position of CS Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSIF III and CS Real.
Diversification Opportunities for CSIF III and CS Real
Very weak diversification
The 3 months correlation between CSIF and SIAT is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding CSIF III Eq and CS Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CS Real Estate and CSIF III is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CSIF III Eq are associated (or correlated) with CS Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CS Real Estate has no effect on the direction of CSIF III i.e., CSIF III and CS Real go up and down completely randomly.
Pair Corralation between CSIF III and CS Real
Assuming the 90 days trading horizon CSIF III Eq is expected to generate 0.77 times more return on investment than CS Real. However, CSIF III Eq is 1.3 times less risky than CS Real. It trades about 0.09 of its potential returns per unit of risk. CS Real Estate is currently generating about 0.04 per unit of risk. If you would invest 126,442 in CSIF III Eq on October 15, 2024 and sell it today you would earn a total of 43,415 from holding CSIF III Eq or generate 34.34% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 99.59% |
Values | Daily Returns |
CSIF III Eq vs. CS Real Estate
Performance |
Timeline |
CSIF III Eq |
CS Real Estate |
CSIF III and CS Real Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CSIF III and CS Real
The main advantage of trading using opposite CSIF III and CS Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSIF III position performs unexpectedly, CS Real can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CS Real will offset losses from the drop in CS Real's long position.CSIF III vs. CSIF III Eq | CSIF III vs. CSIF III Equity | CSIF III vs. CSIF III Equity | CSIF III vs. CSIF I Real |
CS Real vs. Procimmo Real Estate | CS Real vs. SPDR Dow Jones | CS Real vs. Baloise Holding AG | CS Real vs. Autoneum Holding AG |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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